Tds Deduction On Salary - Xls Download

Dear Seniors, Greetings! Myself Amit Kumar Rajput, working in a IT company as an HR Executive. I am not well aware about TDS Deduction on salaries. Can anyone help me. regards, Amit
22nd June 2013 From India, Delhi

Dear Seniors,
Greetings!
Myself Amit Kumar Rajput, working in a IT company as an HR Executive. I am not well aware about TDS Deduction on salaries.
Can anyone help me, what is the criteria for TDS deduction if employee is getting 3lacs per annum.
regards,
Amit
22nd June 2013 From India, Delhi

Sub: TDS
1. Rs 2 lac exempted
2. 2 to5 Lac Rate of I Tax= 10% + 3% Education cess on Tax Amt
3. 5 to 10 Lac 20% + 3% Education cess on Tax amt
4. Above 10 lac 30% +3% Education cess on Tax amt
Over & above 2 lac few deductions are permissible such as PF contribution,P Tax , LIC premium,Home loan interest, conveyance allowance,etc.
Regards
SD Patil
22nd June 2013 From India, Kolhapur

Hi Amit,
TDS on Salary is to be deducted by the employer, when he is having taxable income
1. when the salary exceeds Basic exemption limit(Rs. 2,00,000 for FY 2012-13) as per Income Tax act, the income becomes taxable
2. But While calculating the taxable income, necessary deductions(Maximum of 100,000) have to be taken into considerations from Total Income like
a. Insurance Premium
b. EPF contribution by Employee or PPF contribution
c. Interest on Education loan
d. 5 years Tax saving Fixed Deposits/ National Savings certificate.
e. Housing loan principal repaid, etc.
Employer has to obtain proofs for these savings/Investments.
Regards,
Karthik
23rd June 2013 From India, Bangalore

Hi, I also want to know what is the procedure for TDS return file. And when a employee can apply for it. Regards, Amit
25th June 2013 From India, Delhi

Hi, Hope the attached calculator will be helpful
25th June 2013 From India, Bangalore

Attached Files (Download Requires Membership)

Income_Tax_Calculator_2013-14_ver2.xls (99.5 KB, 377 views)

Dear Seniors, I need a detail explanation about ITR-2 & ITR-4. Actually I am very confused in both. Please explain. Thanks in anticipation! Regards, Amit
27th June 2013 From India, Delhi

If your income is from salary, pension, family pension and interest > ITR 1
Individuals and HUFs* with income from any source other than business or profession > ITR 2
Individuals and HUFs who are partners in a partnership firm and do not have any proprietary business or profession > ITR 3
Individuals and HUFs who have a proprietary business or profession > ITR 4
27th June 2013 From India, Ahmadabad

Hi, below are the two links that can help you better for calculation TDS..
<link no longer exists - removed>
Indian Income Tax Calculator
Regards,
Couvery
27th June 2013 From India, Lucknow